Hannam 3 District Standard Land Price Rises 17% Year-on-Year

[Asia Economy Reporter Onyu Lim] The standard land price in Hannam 3 District has risen by nearly 17% compared to the previous year.

Yongsan-gu, Seoul, announced on the 20th, citing the Ministry of Land, Infrastructure and Transport's decision and announcement, that the average standard land price in the Hannam 3 District Redevelopment Promotion Zone increased by 16.75% compared to the previous year.

The average standard land price in Yongsan-gu rose by 7.86% compared to the previous year. The national average increase rate was 6.33%, and the Seoul average increase rate was 7.89%.

Among the neighborhoods in Yongsan-gu, Bogwang-dong (14.18%), Seobinggo-dong (10.31%), and Hannam-dong (10.20%) showed high rates of increase. All of these areas are part of the Hannam Redevelopment Promotion Zone.

Prior to this, the Ministry of Land, Infrastructure and Transport, together with appraisers from the Korea Appraisal Board, conducted field surveys and assessed the land prices of 1,139 standard land parcels, then decided and announced the standard land prices on the 13th. Details by lot number can be checked on the Real Estate Public Price Information website.